Daily Times

The country’s leading promoter of financial inclusion, Karandaaz Pakistan on Thursday inked agreements with 15 successful female entrepreneurs who took part in the Women Entrepreneurship Challenge 2017.

The entrepreneurs will receive grants and investment worth an estimated amount of Rs 64 million to expand their businesses. The challenge, funded by UK’s Department for International Development, facilitates growth of women-led businesses by providing them technical support and an opportunity to raise investments from Karandaaz. More than 650 women-led businesses applied for the 2017 challenge, of which 36 received business development training through Karandaaz’s partner organisations: Invest2Innovate, a consortium of the National Incubator Centres of Lahore and the Balochistan University of Information Technology, Engineering & Management Sciences, Quetta.

Speaking at the event, Karandaaz Chief Operating Officer Ali Sarfraz explained, “Karandaaz partners with women entrepreneurs so they can realise the true potential of their ideas. We are happy to share that the Women Entrepreneurship Challenge 2018 is currently accepting applications from more women-led businesses and this time we have planned to provide the selected businesses customized support. They may also be eligible to receive financing from Karandaaz at the end.”

Sprinkles Café ownder Shumaila Afsheen and a recipient of a grant from Karandaaz was of the opinion that, “If a woman can be a pilot or an engineer, then why can’t she start a business? Women must challenge these conventional ideas. I had started a business but did not know how to make a proper business plan, define procedures and maintain accounts. Karandaaz trained us in a number of these aspects.”

Amneh Shaikh Farooqui, co-owner of Polly & Other Stories, a business that works with rural artisans and businesses across the country said, “When you buy a product from a rural artisan, the money you give them goes into paying the electricity bill and sending children to school.” Polly & Other Stories plans to use financing from Karandaaz to expand their business and engage more women artisans and smaller rural businesses.”

Published in Daily Times, June 29^th 2018.